| buckeye - 12/11/2014 18:56
So we need to keep minimal amount of cash in banks. So would one alternative be keeping cash in say a brokerage account like Fidelity? Or would they confiscate that too?
There was some type of deal last summer where the SEC made a rule can limit the amount of money you can withdraw from a money market account if things get bad. Something like it gives the money manager the ability to charge you 2% interest if you want to withdraw when it's not convenient for them or even lock your withdrawals completely for so many days if they want to. The reasoning is that the rule will prevent runs on banks. So basically, even storing your money in an account that pays 0% interest has some real risk these days. |
Remember Cyprus and the bail ins ?
